CVC’s Comeback: Brazilian Tourism Leader Posts Strong Q4 Recovery

CVC Brasil, Latin America’s top tourism operator, unveils a solid financial rebound in its Q4 2024 results, released on March 26, 2025. The company records an adjusted net profit of R$8.5 million ($1.5 million), flipping a R$15.4 million ($2.7 million) loss from Q4 2023.

CEO Fabio Godinho labels 2024 a “turnaround” year, spotlighting the firm’s best annual profit since 2018 at R$53.8 million ($9.4 million). The unadjusted net loss shrinks to R$61.2 million ($10.7 million), a 17.8% improvement from last year, while adjusted EBITDA jumps 25.1% to R$108.1 million ($19 million).

Net revenue edges up 4% to R$366.4 million ($64.3 million), fueled by a 17.7% rise in Brazilian bookings. CVC opens 98 stores in Brazil during Q4, totaling 260 for the year, but Argentine bookings slide 17.8% amid economic struggles.

CVC’s Recovery Strategy

Expansion persists with 39 new stores in Argentina, a move Godinho ties to an expected 2025 recovery. Net debt drops 41.8% to R$241 million ($42.3 million) from R$414 million ($72.6 million), with leverage falling to 0.6 times EBITDA.

Cash burn hits R$50.7 million ($8.9 million), up from last year due to tighter IATA payment terms, though annual free cash flow reaches R$185 million ($32.5 million). Operationally, Brazil shines with corporate bookings up 16.9% and leisure travel rising 18.5%.

Full-year EBITDA doubles to R$389 million ($68.2 million), reflecting cost cuts and a focus on profitable clients. CVC sheds unprofitable accounts like 123 Milhas, driving a 70% surge in multimarca sales. With a market cap of R$1.1 billion ($193 million), the firm eyes technology and pricing to sustain growth.

This recovery follows years of strain from the pandemic and debt woes, with 2024 marking a pivot. Godinho plans a slower pace of store openings in 2025, banking on Argentina’s rebound and Brazil’s momentum. Yet, cash flow pressures and regional disparities linger as hurdles in this ongoing revival story.

Related coverage: Simpar’s Turnaround Reflects a Shift to Stability · Behind the R$3 Billion Error: Brazil’s Stock Market Faces a Reality Check · Capital Flight Accelerates: R$5.76 and Beyond as Brazil Faces Potential Export Tariffs · Gold Surges Past $3,085: Trade Tensions and Central Bank Buying Fuel Record Rally

This article was produced by The Rio Times’ automated AI newsroom. Editorial responsibility: Matthias Camenzind, Publisher and Editor-in-Chief. How we use AI · Report an error

LatAm Markets: Live Signals → — real-time movers, turnover leaders and FX across Latin America.